Performances
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.49% | 2.06% | 2.71% | 30.40% | 91.50% | 30.36% |
Comparison
Fundraising not disclosed
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Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
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People
About Sonic
Sonic Labs completed a $10 million strategic financing round led by Galaxy to support U.S. market expansion.
The community voted to approve the 'U.S. Market Expansion and TradFi Adoption Plan,' including establishing Sonic USA and issuing ETFs to drive traditional finance adoption.
Sonic's TVL surpassed $1 billion, indicating rapid ecosystem growth.
Positive:
On June 25, 2026, Sonic Labs suspended the annual token issuance and pushed to stop S token supply inflation, reducing supply pressure. The new management focuses on real revenue, planning four product lines (payments, AI, RWA, etc.), and committed to publishing named milestones in Q4.
Negative:
On June 20, three founders resigned, causing leadership turmoil. On July 29, Aave's risk team proposed exiting Sonic, reflecting insufficient ecosystem activity and revenue. TVL fell ~98% from peak, S price fell ~97% from peak, ecosystem continues to shrink.
Matt Visser, CEO. Background in product management and financial restructuring, co-founded Squire.Law and led Web3 product strategy.
Kosta Kourkoumelis, COO. Over 20 years of experience in financial services and digital assets, involved in ecosystem building since the Fantom ICO phase.
Sonic (Layer-1 platform) has undergone significant team changes recently. In June 2026, co-founder David Richardson, CIO Michael Kong, and CTO Andre Cronje all exited the board and ceased business decisions. Cronje clarified his technical role, stating he did not design the FTM-to-S migration or airdrop, and denied being a founder. Meanwhile, Matt Visser became CEO and Kosta Kourkoumelis became COO.
Visser emphasized operational discipline and rebuilding trust rather than a quick recovery. This is the second management reshuffle within a year, following previous CEO resignations. The company stated engineering continues, and it is forming a risk and compliance committee, committing to transparent governance.